What is an implied agency?
What will be an ideal response?
In many situations, a principal and an agent do not expressly create an agency. Instead, the agency is implied from the conduct of the parties. This type of agency is referred to as an implied agency. The extent of the agent's authority is determined from the facts and circumstances of the particular situation. Implied authority can be conferred by industry custom, prior dealing between the parties, the agent's position and acts deemed necessary to carry out the agent's duties, and other factors the court deems relevant. Implied authority cannot conflict with express authority or with stated limitations on express authority.
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Which of the following pension-related definitions is not correct?
A) Vested benefits are payments that are not contingent on the employee's continuing in the service of the employer. B) Present value is the current worth of an amount or amounts payable or receivable in the future. C) Actuarial assumptions are those made by actuaries concerning future events affecting pension costs. D) Service cost is the amount paid annually to a funding agency under an unfunded pension plan.
What are the guidelines for delivering a good impromptu speech?
What will be an ideal response?
Jillian desires to climb to a leadership level in an organization so as to enable integration and coordination of the efforts of others. Which of the following is most likely her career anchor?
A) General Manager competence B) Security/stability C) Service/dedication to a cause D) Autonomy/independence
Which of the following statements about market segment profiles is true?
A. They can be used to calculate a lifetime value for each customer in a segment. B. They are used to describe differences among people in different market segments. C. They can only deal with demographic characteristics. D. They provide marketers with a cost estimate for serving potential customer groups. E. They cannot be used to describe similarities among potential customers.